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National & World Ag News Headlines |
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CNH Announces First Quarter Financial Results
USAgNet - 04/28/2017
CNH Industrial N.V. announced consolidated revenues of $5.6 billion for the first quarter of 2017, up 5.8% compared to the first quarter of 2016.
Net sales of Industrial Activities were $5.3 billion in the first quarter of 2017, up 6.1% compared to the first quarter of 2016. Reported net income was $49 million for the first quarter of 2017.
Operating profit of Industrial Activities was $219 million for the first quarter of 2017, a $41 million increase compared to the first quarter of 2016, with an operating margin of 4.1%, up 0.6 p.p. compared to the first quarter of 2016.
Agricultural Equipment's net sales increased 10.5% in the first quarter of 2017 compared to the first quarter of 2016, as a result of a strong rebound in demand in LATAM and the continuation of positive market momentum in APAC. Revenue in NAFTA and
EMEA were flat to slightly down due to a weak demand environment, partially mitigated by positive pricing.
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